FTCE 6 – 12 B usin ess Education Q u e s tio n s w ith
10 0 % V e r ifi e d C o r r e c t A n s w e r s
1. COBOL: Programming language that was developed for coding business data. It is the oldest programming
language.
2. BASIC: a popular programming language that is relatively easy to learn
3. BASIC =: Beginner's All-purpose Symbolic Instruction Code
4. COBOL =: Common Business Oriented Language
5. FORTRAN: a high-level programing language for mathematical and scientific purposes.
6. JAVA: a simple platform-independent object-oriented programming language used for writing applets that are
downloaded from the World Wide Web by a client and run on the client's machine
7. AAUW =: American Association of University Women
8. FORTRAN =: Formula Translation
9. AAUW: a nationwide network that works for the advancement of equity for women and girls through advocacy,
education, philanthropy, and research.
10. EEOC =: The US Equal Employment Opportunity Commission.
11. EEOC: enforces federal laws that make it ilegal to discriminate against a job applicant or an employee
because of the persons reace, color, religion, sex (including pregnancy), national origin, ago, disability or genetic
information.
12. NBEA (stands for...): National Business Education Association
13. NBEA: Professional organization devoted exclusively to serving individuals and groups engaged in
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, instruction, administration, research, and dissemination of information for and about business.
14. OSHA =: Occupational Safety and Health Administration
15. OSHA: An organization intended to assure safe and healthful working conditions for working men and
women by setting and enforcing standards and providing training, outreach, education and assistance.
16. balancing: verifying all the transactions on your account to make certain your records match the bank.
17. financial statement: A written report of the financial condition of a firm. Includes balance sheet,
income statement, statement of changes in net worth and statement of cash flow.
18. income statement: a financial document that shows how much money (revenues) came in and how
much money (expenses) was paid out
19. sales: the gross revenue generated from the sale of something less returns (cancellations) and
allowances (reduction in price for discounts taken by customers).
20. gross profit: the amount of direct profit associated with the actual manufacturing of the item sold.
Calculated as sales less the cost of goods sold.
21. fixed assets: Longterm or relatively permanent tangible assets such as equipment, machinery, and
buildings that are used in the normal business operations and that depreciate over time.
22. owner's equity: amount of money that owners would receive if they sold all of a firm's assets and
paid all of its liabilities
23. footing: The total of the debit column or credit column of an account.
24. journalizing: The process of recording business transactions in a journal. Generally includes date,
ledger account to be debited and amount, ledger account to be credited and amount, description and cross-reference to
the general ledger.
25. posting: Process of transferring debit and credit amounts from journals to the ledgers
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10 0 % V e r ifi e d C o r r e c t A n s w e r s
1. COBOL: Programming language that was developed for coding business data. It is the oldest programming
language.
2. BASIC: a popular programming language that is relatively easy to learn
3. BASIC =: Beginner's All-purpose Symbolic Instruction Code
4. COBOL =: Common Business Oriented Language
5. FORTRAN: a high-level programing language for mathematical and scientific purposes.
6. JAVA: a simple platform-independent object-oriented programming language used for writing applets that are
downloaded from the World Wide Web by a client and run on the client's machine
7. AAUW =: American Association of University Women
8. FORTRAN =: Formula Translation
9. AAUW: a nationwide network that works for the advancement of equity for women and girls through advocacy,
education, philanthropy, and research.
10. EEOC =: The US Equal Employment Opportunity Commission.
11. EEOC: enforces federal laws that make it ilegal to discriminate against a job applicant or an employee
because of the persons reace, color, religion, sex (including pregnancy), national origin, ago, disability or genetic
information.
12. NBEA (stands for...): National Business Education Association
13. NBEA: Professional organization devoted exclusively to serving individuals and groups engaged in
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, instruction, administration, research, and dissemination of information for and about business.
14. OSHA =: Occupational Safety and Health Administration
15. OSHA: An organization intended to assure safe and healthful working conditions for working men and
women by setting and enforcing standards and providing training, outreach, education and assistance.
16. balancing: verifying all the transactions on your account to make certain your records match the bank.
17. financial statement: A written report of the financial condition of a firm. Includes balance sheet,
income statement, statement of changes in net worth and statement of cash flow.
18. income statement: a financial document that shows how much money (revenues) came in and how
much money (expenses) was paid out
19. sales: the gross revenue generated from the sale of something less returns (cancellations) and
allowances (reduction in price for discounts taken by customers).
20. gross profit: the amount of direct profit associated with the actual manufacturing of the item sold.
Calculated as sales less the cost of goods sold.
21. fixed assets: Longterm or relatively permanent tangible assets such as equipment, machinery, and
buildings that are used in the normal business operations and that depreciate over time.
22. owner's equity: amount of money that owners would receive if they sold all of a firm's assets and
paid all of its liabilities
23. footing: The total of the debit column or credit column of an account.
24. journalizing: The process of recording business transactions in a journal. Generally includes date,
ledger account to be debited and amount, ledger account to be credited and amount, description and cross-reference to
the general ledger.
25. posting: Process of transferring debit and credit amounts from journals to the ledgers
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